Immunomedics, Inc. (IMMU) Forecasted to Earn FY2023 Earnings of $2.08 Per Share
Immunomedics, Inc. (NASDAQ:IMMU) – Stock analysts at B. Riley issued their FY2023 EPS estimates for Immunomedics in a research note issued to investors on Thursday, November 8th. B. Riley analyst M. Kumar forecasts that the biopharmaceutical company will post earnings of $2.08 per share for the year. B. Riley has a “Buy” rating and a $55.00 price objective on the stock.
Immunomedics (NASDAQ:IMMU) last posted its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.06). Immunomedics had a negative return on equity of 108.80% and a negative net margin of 12,701.21%. During the same quarter in the previous year, the firm posted ($0.97) earnings per share.
NASDAQ IMMU opened at $21.47 on Friday. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of -20.84 and a beta of 1.93. Immunomedics has a 12-month low of $8.68 and a 12-month high of $27.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 14.83 and a quick ratio of 14.83.
Several institutional investors have recently modified their holdings of the stock. Trexquant Investment LP raised its holdings in shares of Immunomedics by 272.6% during the third quarter. Trexquant Investment LP now owns 46,972 shares of the biopharmaceutical company’s stock worth $978,000 after purchasing an additional 34,367 shares during the last quarter. American International Group Inc. raised its holdings in shares of Immunomedics by 9.8% during the third quarter. American International Group Inc. now owns 94,284 shares of the biopharmaceutical company’s stock worth $1,964,000 after purchasing an additional 8,421 shares during the last quarter. BlackRock Inc. increased its holdings in Immunomedics by 8.7% in the third quarter. BlackRock Inc. now owns 12,203,782 shares of the biopharmaceutical company’s stock valued at $254,206,000 after buying an additional 974,954 shares in the last quarter. Fosun International Ltd purchased a new position in Immunomedics in the third quarter valued at $1,561,000. Finally, Janus Henderson Group PLC increased its holdings in Immunomedics by 13.1% in the third quarter. Janus Henderson Group PLC now owns 3,640,299 shares of the biopharmaceutical company’s stock valued at $75,827,000 after buying an additional 422,540 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.
Immunomedics, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer. Its advanced antibody-drug conjugates are sacituzumab govitecan and labetuzumab govitecan, which are in advanced trials for various solid tumors and metastatic colorectal cancer, respectively.
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